BI Asset Management Fondsmaeglerselskab A S Has $15.55 Million Stock Position in Citigroup Inc. $C

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Citigroup Inc. (NYSE:C) by 50.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 137,116 shares of the company’s stock after selling 137,642 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Citigroup were worth $15,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Citigroup by 166.9% in the fourth quarter. Brighton Jones LLC now owns 19,990 shares of the company’s stock valued at $1,407,000 after acquiring an additional 12,499 shares during the period. Sivia Capital Partners LLC raised its stake in Citigroup by 20.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 9,805 shares of the company’s stock worth $835,000 after purchasing an additional 1,669 shares in the last quarter. United Bank bought a new stake in Citigroup in the 2nd quarter valued at about $972,000. Osterweis Capital Management Inc. grew its position in shares of Citigroup by 3,016.7% during the 2nd quarter. Osterweis Capital Management Inc. now owns 935 shares of the company’s stock worth $80,000 after purchasing an additional 905 shares in the last quarter. Finally, HUB Investment Partners LLC grew its position in shares of Citigroup by 26.9% during the 2nd quarter. HUB Investment Partners LLC now owns 15,287 shares of the company’s stock worth $1,301,000 after purchasing an additional 3,238 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on C shares. Barclays lifted their price target on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. raised their price objective on Citigroup from $131.00 to $135.50 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $139.00 price objective on shares of Citigroup in a report on Wednesday, April 15th. Wells Fargo & Company increased their target price on Citigroup from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Piper Sandler restated an “overweight” rating and issued a $145.00 price target (up from $125.00) on shares of Citigroup in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.79.

Citigroup News Summary

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Citi’s latest macro view suggests the Federal Reserve may keep rates higher for longer, which could boost net interest income for Citigroup (C) if short-term yields remain elevated. Citi Predicts Fed Rate Cuts Will Come Later Than Expected
• Positive Sentiment: The bank also announced a leadership move in Asia, appointing JianXun Toh to lead corporate banking in Japan, Asia North and Australia, reinforcing its push to grow institutional banking in a key region. Citigroup (C) Appoints JianXun Toh To Lead Corporate Banking In JANA
• Positive Sentiment: Analyst sentiment remains supportive, with Citigroup receiving a consensus “Moderate Buy” rating, which can help reinforce investor confidence in the stock. Citigroup Inc. (NYSE:C) Receives Consensus Recommendation of “Moderate Buy” from Analysts
• Neutral Sentiment: Citi also highlighted innovation in asset management with a new report on “operational alpha,” underscoring its broader financial-services research franchise, though the direct stock impact is limited. Citi and CREATE-Research Report: Innovation in Asset Management Pivots to ‘Operational Alpha’
• Negative Sentiment: A Reuters/Fox Business report said the Justice Department is probing transactions tied to a network linked to Iran’s supreme leader, including possible connections to Wall Street firms such as Citigroup, creating headline risk for the bank. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

Citigroup Stock Up 0.2%

Shares of NYSE:C opened at $143.37 on Friday. Citigroup Inc. has a 52-week low of $77.50 and a 52-week high of $147.96. The company has a market capitalization of $244.52 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. The company has a fifty day moving average of $129.86 and a 200-day moving average of $119.49.

Citigroup (NYSE:C) last released its quarterly earnings data on Tuesday, April 14th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.43. The company had revenue of $24.63 billion for the quarter, compared to the consensus estimate of $22.96 billion. Citigroup had a return on equity of 9.19% and a net margin of 9.35%.Citigroup’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $1.96 EPS. On average, equities analysts predict that Citigroup Inc. will post 10.72 EPS for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, May 4th. Citigroup’s dividend payout ratio (DPR) is presently 29.74%.

Citigroup declared that its Board of Directors has approved a share repurchase program on Thursday, May 7th that allows the company to buyback $30.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, insider Edward Skyler sold 25,000 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $131.41, for a total transaction of $3,285,250.00. Following the sale, the insider directly owned 182,022 shares in the company, valued at approximately $23,919,511.02. The trade was a 12.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Cunningham Dugan sold 2,117 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $125.30, for a total value of $265,260.10. Following the completion of the transaction, the director directly owned 12,194 shares of the company’s stock, valued at $1,527,908.20. This represents a 14.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.11% of the company’s stock.

Citigroup Company Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.